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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows - operating activities    
Premiums collected $ 396,887 $ 392,103
Policyholder benefits paid (275,437) (272,769)
Policy acquisition and other operating expenses paid (161,863) (141,620)
Income taxes paid (78) (7,393)
Investment income collected 139,210 184,749
Interest expense paid (6,440) (6,190)
Other 5,557 2,429
Net cash provided by operating activities 97,836 151,309
Fixed maturity securities    
Purchases (644,104) (551,984)
Sales 501,739 190,023
Maturities, paydowns, calls and redemptions 342,998 383,090
Equity securities    
Purchases (5,282) (6,028)
Sales and repayments 17,122 5,783
Limited partnership interests    
Purchases (29,357) (33,031)
Sales 15,029 9,457
Change in short-term and other investments, net (156,748) (109,711)
Acquisition of business, net of cash acquired (18,198) 0
Net cash provided by (used in) investing activities 23,199 (112,401)
Cash flows - financing activities    
Dividends paid to shareholders (23,630) (23,320)
Acquisition of treasury stock 0 (86)
Proceeds from exercise of stock options 722 2,460
Withholding tax payments on RSUs tendered (3,366) (2,155)
Annuity contracts: variable, fixed and FHLB funding agreements    
Deposits 266,310 199,074
Benefits, withdrawals and net transfers to Separate Account (variable annuity) assets (214,243) (218,694)
Life policy accounts    
Deposits 4,638 3,163
Withdrawals and surrenders (1,733) (2,525)
Change in deposit asset on reinsurance, net (134,682) 0
Change in book overdrafts (19,341) 3,795
Net cash used in financing activities (125,325) (38,288)
Net increase (decrease) in cash (4,290) 620
Cash at beginning of period 11,906 7,627
Cash at end of period $ 7,616 $ 8,247